S&P 500 Futures ( ES1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 3903.25
Pivot: 3698.75
Support: 3334.50
Preferred Case: On H4, with the price moving below the ichimoku cloud and descending trendline, we have a bearish bias that the price may drop from the pivot at 3698.75, which is in line with the 61.8% fibonacci projection and swing lows to the 1st support at 3334.50, where the 78.6% fibonacci projection and 100% fibonacci projection are.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 3903.25, where the 38.2% fibonacci retracement is.
Fundamentals: No major news
Resistance: 3903.25
Pivot: 3698.75
Support: 3334.50
Preferred Case: On H4, with the price moving below the ichimoku cloud and descending trendline, we have a bearish bias that the price may drop from the pivot at 3698.75, which is in line with the 61.8% fibonacci projection and swing lows to the 1st support at 3334.50, where the 78.6% fibonacci projection and 100% fibonacci projection are.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 3903.25, where the 38.2% fibonacci retracement is.
Fundamentals: No major news
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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